Avitas Wealth Management LLC Purchases 11 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Avitas Wealth Management LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,150 shares of the company’s stock after purchasing an additional 11 shares during the quarter. Avitas Wealth Management LLC’s holdings in MercadoLibre were worth $2,360,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MELI. Migdal Insurance & Financial Holdings Ltd. lifted its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $36,000. Quarry LP acquired a new stake in shares of MercadoLibre in the second quarter valued at approximately $43,000. Finally, NBC Securities Inc. raised its position in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.4 %

MercadoLibre stock opened at $2,026.57 on Wednesday. The company has a fifty day simple moving average of $2,048.06 and a 200 day simple moving average of $1,793.83. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 1-year low of $1,205.80 and a 1-year high of $2,161.73. The company has a market cap of $102.74 billion, a P/E ratio of 90.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.16 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, October 7th. Citigroup boosted their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, BTIG Research upped their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.